Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2012

Accounting Policies [Abstract]

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

As of June 30, 2012 and December 31, 2011, Wells VAF I had the following gross intangible in-place lease assets and liabilities:

	As of June 30, 2012
	Intangible Lease Assets						Intangible Lease Origination Costs			Intangible Below-Market In-Place Lease Liabilities
	Above-Market In-Place Lease Assets			Absorption Period Costs
Gross	$	357,971		$	2,934,382		$	2,619,309		$	386,472
Accumulated Amortization	(212,931		)	(2,039,338		)	(1,918,981		)	(268,356		)
Net	$	145,040		$	895,044		$	700,328		$	118,116

	As of December 31, 2011
	Intangible Lease Assets						Intangible Lease Origination Costs			Intangible Below-Market In-Place Lease Liabilities
	Above-Market In-Place Lease Assets			Absorption Period Costs
Gross	$	357,971		$	2,934,382		$	2,619,309		$	386,472
Accumulated Amortization	(194,417		)	(1,826,911		)	(1,723,048		)	(241,923		)
Net	$	163,554		$	1,107,471		$	896,261		$	144,549

During the three months ended June 30, 2012 and 2011, Wells VAF I recognized the following amortization of acquired intangible lease assets and liabilities:

	Intangible Lease Assets				Intangible Lease Origination Costs		Intangible Below-Market In-Place Lease Liabilities
For the three months ended June 30:	Above-Market In-Place Lease Assets		Absorption Period  Costs
2012	$	9,258	$	106,212	$	97,967	$	13,217
2011	$	9,258	$	106,213	$	97,967	$	13,216

During the six months ended June 30, 2012 and 2011, Wells VAF I recognized the following amortization of acquired intangible lease assets and liabilities:

	Intangible Lease Assets		Intangible Lease Origination Costs	Intangible Below-Market In-Place Lease Liabilities
For the six months ended June 30:	Above-Market In-Place Lease Assets	Absorption Period  Costs
2012	18,516	212,425	195,933	26,433
2011	18,516	212,425	195,933	26,433

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The remaining net intangible assets and liabilities balances as of June 30, 2012 will be amortized as follows:

	Intangible Lease Assets				Intangible Lease Origination Costs		Intangible Below-Market In-Place Lease Liabilities
For the year ending December 31,	Above-Market In-Place Lease Assets		Absorption Period Costs
2012	$	18.516	$	212.425	$	195.933	$	26.433
2013	37.032		269.233		229.612		35.573
2014	37.032		158.067		113.705		23.218
2015	37.032		158.067		113.705		23.218
2016	15.428		81.558		47.373		9.674
2017	—		15.694		—		—
	$	145,040	$	895,044	$	700,328	$	118,116
Weighted-Average Amortization Period	4 years		3 years		2 years		3 years